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and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start talking about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. we have a $16.3 trillion debt. all of this talk about raising taxes doesn't get us even close to solving the problem. it doesn't even start the conversation. it is not a drop in the bucket. we've got to reform our spending or grow the economy. but just raising taxes isn't going to do it. >> well, i agree with you 100%. that's why the president as well as the democrats have called for a balanced approach. so of course we can't raise enough taxes to completely deal with the deficit. and you do have to do reforms. you need to reform the tax system. you certainly need to make addition
and you know, there are some taxes that would go up if we two off the fiscal cliff. you're talking about a family that makes about $50,000 having a tax increase of $4,000. melissa: congresswoman, this drives me crazy. when we look at all the numbers we immediately start talking about taxes. it seems like we're looking for revenue under every single rock. that's fine. even if we raised taxes that are proposed by the white house, it will raise $82 billion. it is one half of 1% of the problem. we...
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we are distracted by the fiscal cliff. let there be a economic growth. interest rates would go up. interest rates will stay reasonably low. we should be glad that we have this economy. either we really go down the cliff or let some growth kick in and indeeddwhat happens, interest rates will go up. ultimately, inflation is the road we will be heading on. dagen: is there anything you can look at today that shows interest rates will go up? >> what we know now is that the federal reserve no longer focuses on inflation, but on employment. that is why the unemployment rate will be ever more important today. next year, the federal reserve will be even more starvation -- we are going to push growth at any cost: the cost being inflation. at some point, the market will take point. we are going to have a lot of turmoil. we do not have a european crisis. we are certainly a candidate. higher rates will be in it. dagen: higher by how much quick select you have 1.6% on the ten year period >> in recent years, everyone has felt warm and fuzzy. let volatility go back to normal time. you do not need
we are distracted by the fiscal cliff. let there be a economic growth. interest rates would go up. interest rates will stay reasonably low. we should be glad that we have this economy. either we really go down the cliff or let some growth kick in and indeeddwhat happens, interest rates will go up. ultimately, inflation is the road we will be heading on. dagen: is there anything you can look at today that shows interest rates will go up? >> what we know now is that the federal reserve no...
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the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and millionaires. it's a sad state of affairs. >> one thing that we've seen in the days leading up, at least through this week, that there has been optimism from both sides expressed by speaker boehner, also by the president, and also republican tom cole, congre congressman, seem to be on board. now we have conservatives like charles krauthammer putting out their pieces saying let's go over the fiscal cliff, let the president do this. then john cornyn, republican from texas, saying apparently the president wants us to go over the fiscal cliff. this is serious business, demanding higher taxes, more stimulus
the biggest issue that's causing the fiscal cliff is the tax rates going up on the middle class. especially in this time now when we're getting out of this recession. we're seeing some robust growth. we want the christmas sales to be good. if the middle class knew that they're going to keep their tax cut, it would put a smile on everybody's face. and both parties can take credit for it. why won't they do it? there's only one answer. they're obsessed with protecting billionaires and...
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the 2% is part of the fiscal cliff, sequestration due to the fiscal cliff. melissa: at the same time these doctors at end of the day end up paying higher income tax after what they're making at work is cut. when they get home and the government comes back and takes a bigger bite. >> melissa, your viewers many already faced with this $250,000 or above tax that is going to occur if this isn't solved. i want to point out physicians this is gross figure, many physicians have a lot of expenses hidden in that. they're not making $250,000. the cost of machinery. cost of tests. cost of keeping offices open. every small business has the problem. doctors will get in the position to say wait a minute, i can't afford to take care of those patients. maybe they go to the hospital. melissa: on top of all that the doctors are affected by the health care act's restrictions. >> they will not be able to offer certain technological solutions because insurance won't pay for it. i want to order that test but insurance won't pay. i'm still liable even if i can't order it. obamacar
the 2% is part of the fiscal cliff, sequestration due to the fiscal cliff. melissa: at the same time these doctors at end of the day end up paying higher income tax after what they're making at work is cut. when they get home and the government comes back and takes a bigger bite. >> melissa, your viewers many already faced with this $250,000 or above tax that is going to occur if this isn't solved. i want to point out physicians this is gross figure, many physicians have a lot of expenses...
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cliff. treasury secretary tim geithner is on capitol hill right now set to meet with nancy pelosi in less than an hour. earlier today geithner met behind closed doors with house speaker john boehner, senate majority leader harry reid and frank mcconnell. the word he used to describe the overall negotiations, disappointing. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line. the american economy is on the line. and this is a moment for adult leadership. campaign style rallies and one-sided leaks in the press are not the way to get things done here in washington. >> democrats today said they're confident a deal can be reached by christmas. but admit negotiations would need to pick up steam. as for senator reid, he says it's now up to the gop to make the next move. >> we're still waiting for a serious offer from the republicans. the president has made his proposal. we need a propos
cliff. treasury secretary tim geithner is on capitol hill right now set to meet with nancy pelosi in less than an hour. earlier today geithner met behind closed doors with house speaker john boehner, senate majority leader harry reid and frank mcconnell. the word he used to describe the overall negotiations, disappointing. >> no substantive progress has been made in the talks between the white house and the house over the last two weeks. listen, this is not a game. jobs are on the line....
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but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if they can get past tax rates and spending cuts, then they will be able to deal with the peripheral issues. but we don't have much time. if a deal isn't reached or a framework isn't reached in the next week or, so it's going to be a big problem. >> all right, thanks for that. good to see you. > >>> nokia -- we'll tell you more when we come back in a few moments. [ male announcer ] this december, remember -- ♪ you can stay in and like something... ♪ [ car alarm deactivates ] ♪ ...or you can get out there with your family and actually like something. ♪ the lexus december to remember sal
but it's also important to remember that the fiscal cliff isn't only tax rates and spending cuts. the fiscal cliff also includes the nation's agriculture policy, which expires at the end of the year. it includes patches to medicare formulas. patches to social security formulas. so this is a huge mess of issues. we're not even talking about those issues yet. congressional negotiators and the white house aren't talking about these huge host of other issues that are on the table. the thought is if...
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with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there there is a code of silence the white house and speaker boehner's try to apply to these phone conversations, releasing as few details as possible to protect the underlying negotiations. nevertheless, cbs news has learned the following: the speaker and the president spoke before treasury secretary tkpwaoeugter in'sers.e.c.geithner's comments about going over the cliff, the conversation was described as brief, meaning shorter than the 28-minute conversation speaker boehner and the president had last week. also those familiar with the conversation tell me -- or do not used a skwrebgive thes like
with no agreement, going over the fiscal cliff would be painful. the automatic tax increases break down like this: households making $20,000 to $4,000 would see an increase in $1,200 a year. incomes of $40,000 to $64,000 would see taxes rise $2,000 and in the $64,000 to $108,000 bracket taxes go up $3,500 a year. mr. obama and the republican speaker of the house talked this over today and here's major garrett at the white house. major? >> reporter: scott, there there is a code of silence...
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see what he thinks about the fiscal cliff. >>> later on in the program, with the rush to sell high-end homes to take advantage of this year's lower tax rates, is it a good time now to snap them up? our wealth editor robert frank. plus, our real estate correspondent will tell you what you need to know back half of the show. don't miss it. >>> and here's a lye shot of the street outside the new york stock exchange. christmas tree is right behind the band there. they are ready for the tree lighting ceremony. expect it to take place about an hour from now. we'll take you there live. back in a moment. obligations. obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. music is a universa
see what he thinks about the fiscal cliff. >>> later on in the program, with the rush to sell high-end homes to take advantage of this year's lower tax rates, is it a good time now to snap them up? our wealth editor robert frank. plus, our real estate correspondent will tell you what you need to know back half of the show. don't miss it. >>> and here's a lye shot of the street outside the new york stock exchange. christmas tree is right behind the band there. they are ready...
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cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. all those americans, too, get a tax cut on the first $250,000 of their income. so, in some sense it's a tax cut for all americans. >> reporter: bottom line, anderson, we're talking today but still at stalemate. >> yeah, i mean, it's a sign, jessica and dana, of just how lack -- how little progress there's been that a phone call is big news between these two. dana, we're also hearing hints of some move between republicans, coburn, olympia snowe. what are you hearing? how significant is it? >> reporter: it's significant for a couple reasons. you're right. three republicans in different ways suggested they would be okay with what most republicans are saying, that they're not okay with, which is raising tax rates for the wealthiest. tom is
cliff if the gop does not agree to raise those rates. this was treasury secretary geithner earlier today on cnbc. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. all those americans, too, get a tax cut on the first $250,000 of their income. so, in some sense it's a tax cut for all americans. >> reporter: bottom line, anderson, we're...
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fiscal cliff talks are turning into a high-stakes game of chicken. secretary tim geithner said there's no deal unless republicans agree to raise taxes on the wealthy. >> if they are going to force higher rates on virtually all americans because they are unwilling to let tax rates go up on 2% of americans, then that's the choice we'll have to make. >> republicans are furious. they don't like democrats drawing a red line in the sand. >> i think we are going over the cliff. it is pretty clear to me they made a political calculation. >> president barack obama and gop leaders held one face to face meeting on the fiscal cliff since the election. that meeting took place more than two weeks ago. >>> the kansas city chiefs suited up and took the field today against carolina. that's despite the shock and horror of yesterday's suicide of linebacker jevon belcher. stay right there with full details in a full report on cnn in just a minute. >>> high winds and heavy rain are pummeling the northwest. the rainfall will continue throughout the day. some places have a
fiscal cliff talks are turning into a high-stakes game of chicken. secretary tim geithner said there's no deal unless republicans agree to raise taxes on the wealthy. >> if they are going to force higher rates on virtually all americans because they are unwilling to let tax rates go up on 2% of americans, then that's the choice we'll have to make. >> republicans are furious. they don't like democrats drawing a red line in the sand. >> i think we are going over the cliff. it is...
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investors hope the fiscal cliff in the u.s.a. can be avoided. >> let's get a closer look at friday's trading. with all that uncertainty in washington, traders were playing it cautious. in germany, the blue-chip dax broke a bit of a winning streak, only gaining fractionally. euro stoxx 50 was down on the day. in new york, trading is still under way. it is also not really doing a whole lot today. as for the euro against the dollar, it is above that key $1.30 level, trading for $ 1.3002. unemployment in the eurozone climbed to yet another record in october. and 11.7% of the working age population, about 19 million people, are without a job. in spain, that means one in every four people are out looking for work and a dependent on state aid. >> but it is not all bad news. ireland has managed to turn its major recession around and is now posting gains thanks to a lifeline from the e you. >> two years ago, ireland receive more than 67 billion euros from the eu bailout fund, and the money appears to have helped. the government was able t
investors hope the fiscal cliff in the u.s.a. can be avoided. >> let's get a closer look at friday's trading. with all that uncertainty in washington, traders were playing it cautious. in germany, the blue-chip dax broke a bit of a winning streak, only gaining fractionally. euro stoxx 50 was down on the day. in new york, trading is still under way. it is also not really doing a whole lot today. as for the euro against the dollar, it is above that key $1.30 level, trading for $ 1.3002....
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if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the president is playing a very dangerous game of chicken and this is with your paycheck and the american dream. meanwhile, the republicans have allowed themselves to get caught in a circular firing squad. they're negotiating publicly among themselves while true conservatives and tea party members are being removed from key committees. today speaker john boehner adopted the president's class wawarfare rhetoric. shocking? watch this. >> we've got to cut spending, and i believe it's appropriate to put revenues on the table. now, the revenues we're putting on the table are going to come from, guess who, the ric
if republicans do not agree to that, is the administration prepared to go over the fiscal cliff? >> oh, absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthy. >> all right. it appears the very definition of the american dream is now being rewritten by president barack obama. now, today our commander-in-chief publicly said he's not going to play games with the fiscal cliff, but that is just not reality. right now the...
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whether political theater or political reality, there's more mention going over the fiscal cliff could go beyond hypothetical. >> there's clearly a chance. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then, you know, that's the choice they're going to have to make. >> emily joins us live from washington. emily, the zinger sound bites, they're all piling up. what is the actual strategy behind all this political theater? what are you hearing from the republicans and from the democrats? >> reporter: you know, less than a month out now from going over the fiscal cliff. even talk about political strategy sounds an awful lot like posturing. we heard it from secretary geithner who said republicans seem to be in a hard place on this, not knowing what to do next. speaker boehner said, look, democrats won the election but they seem to have forgotten that republicans still control the house. at this point
whether political theater or political reality, there's more mention going over the fiscal cliff could go beyond hypothetical. >> there's clearly a chance. >> i think we're going over the cliff. it's pretty clear to me they've made a political calculation. >> if they are going to force higher rates on virtually all americans because they're unwilling to let tax rates go up on 2% of americans, then, you know, that's the choice they're going to have to make. >> emily joins...
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cliff that could raise taxes by year's end. we begin with a report from newshour congressional correspondent kwame holman. >> we're going to have to see the rates on the top two percent go up. we're not going to be able to get a deal without it. >> reporter: in his first interview since the election, president obama rejected a proposal from house speaker john boehner. he spoke on bloomberg television. >> unfortunately the speaker's proposal right now is still out of balance. i'm happy to entertain other ideas that the republicans may present. but we are not going to simply cut our way to prosperity or to cut our way out of this deficit problem that we have. we're going to need more revenues. in order to do that, that starts with higher rates for the folks at the top. >> reporter: the president did say today he would consider lowering rates again for the top two percent next year as part of a broader tax overhaul. the house republican plan envisions $2.2 trillion in deficit reductions over the next decade. $800 billion would com
cliff that could raise taxes by year's end. we begin with a report from newshour congressional correspondent kwame holman. >> we're going to have to see the rates on the top two percent go up. we're not going to be able to get a deal without it. >> reporter: in his first interview since the election, president obama rejected a proposal from house speaker john boehner. he spoke on bloomberg television. >> unfortunately the speaker's proposal right now is still out of balance....
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cliff in january. treasury secretary tim geithner tells cnbc republicans have made a little progress, but the obama administration is "absolutely ready to go over the cliff if the gop doesn't agree to raise tax rates on wealthy americans." apple has lost a bit of its shine. the tech giant stock suffering its worst day in four years on thursday. several factors may have been at play. investors worried apple may be giving up ground in the tablet market to rivals, while nokia beat the company to the punch. there are also unconfirmed reports a stock clearinghouse firm is reducing the margin requirements on apple stock. apple lost $35 billion in market value yesterday. to put that into perspective, there are 417 companies listed on the s&p 500 index that have a market cap below $35 billion, so the jimmer fredet the majority of the s&p is valued at just below what apple lost yesterday. >>> a fairfax county woman will have to remove parts of her negative online review of a home contractor. the ruling was made
cliff in january. treasury secretary tim geithner tells cnbc republicans have made a little progress, but the obama administration is "absolutely ready to go over the cliff if the gop doesn't agree to raise tax rates on wealthy americans." apple has lost a bit of its shine. the tech giant stock suffering its worst day in four years on thursday. several factors may have been at play. investors worried apple may be giving up ground in the tablet market to rivals, while nokia beat the...
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the top senate democrats said they won't consider proposals to saw void the so-called fiscal cliff. not until the gop agrees that tax rates will go up on the wealthiest of americans. they said it from the beginning. president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for anybody, but an incrowsing number of republicans -- an increasing number of republicans are saying they will have to give in to democrats' demands. you know i read a number of websites that said republicans have waived the white flag on some issues, but not all of them. assuring republicans they don't have to vote for a tax increase. >> and it technically may be correct, but not many are buying this new strategy from the white house since the tax cuts from the middle class and those from the top 2% are both set to expire at the end of the year. the white house says congress really only has to e
the top senate democrats said they won't consider proposals to saw void the so-called fiscal cliff. not until the gop agrees that tax rates will go up on the wealthiest of americans. they said it from the beginning. president obama visited a family in virginia to layout his case. the white house says it is one of thousands of middle class families facing higher taxes if congress doesn't reach some sort of deal. house speaker insists the republicans will not go along with a higher tax rate for...
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. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" bureau chief and welcome to both of you. where are we in these negotiations, susan? >> i think the most encouraging thing was they agreed to the to characterize the phone call. the last time around the characterization of the phone call became a controversy in itself. i think it's pretty clear that the white house and republicans think the white house hand on this is strengthening. we see the polls that you mention, pew polls this week say americans trust the president more, assume if a deal is not reached -- trust the white house more, think if a deal isn't reached it, will be the fault of republicans and it is in fact easier for democrats to go over the fiscal cliff than it is for republicans because then all those tax cuts from the republicans are swept away. but it's too early. it's only december 6. we've
. >> if republicans do not agree to that, is the administration prepared to go over the fiscal cliff in. >> absolutely. there's no prospect to an agreement that doesn't involve those rates going up on the top 2% of the wealthiest. it's only 2%. >> i want to bring in "usa today" bureau chief and welcome to both of you. where are we in these negotiations, susan? >> i think the most encouraging thing was they agreed to the to characterize the phone call. the last...
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both sides sticking to party lines refusing to budge on the fiscal cliff. we will break through the gridlock on the last day of our special series fiscal cliff survival kits. david dietz from another taken. dennis: what your small business needs to do to prepare for falling off of the cliff. cheryl: in all of this is a silver lining especially dividend payouts and stimulus payoffs. dennis: a push to replace the paper dollar with a coin. won't believe how much money for taxpayers. cheryl: lauren simonetti in the stock exchange. >> the nasdaq anderson be a higher but not for the dow. the dow is negative but the other two are positive. the second week in a row, all three indices are down right now and near session lows, relatively flat, major declines, and major comments out of anybody in washington regarding the fiscal cliff today so we have this cautious market. let's look at the biggest loser in the s&p 500, cabarrus 9. shares are tanking 14%. they operate diaz they.com internet addresses, they renewed contract with regulators but as part of the deal they c
both sides sticking to party lines refusing to budge on the fiscal cliff. we will break through the gridlock on the last day of our special series fiscal cliff survival kits. david dietz from another taken. dennis: what your small business needs to do to prepare for falling off of the cliff. cheryl: in all of this is a silver lining especially dividend payouts and stimulus payoffs. dennis: a push to replace the paper dollar with a coin. won't believe how much money for taxpayers. cheryl: lauren...
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cliff. it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both sides say it's time to get serious. governors from six states are headed here to washington today to tell president obama their thoughts on the fiscal cliff. the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one's going to get what they want, but as a country to move forward, we've got to figure out who gives where, and if everything is going to be out on the table, how do we negotiate that? >> reporter:
cliff. it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out...
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if republicans and not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there is no room for an agreement that the not involve the rates going up for the top 2%. >> speaking to a roundtable of corporate executives in washington, president obama said republicans' aid to examine the reality that tax rates will rise for the wealthiest americans. >> we have seen some movement in the last several days with some republicans. there has been a recognition that, maybe, they can accept some rate increases as long as is combined with a serious impediment reform and additional spending cuts. and if we can get the leadership on the republican side to take that kramer, to acknowledge that reality, then the numbers are actually not that far apart. another way of putting this is, we could probably solve this in about one week. it is not that tough. >> new details have been revealed in the retail giant kermit factory where 120 dacre workers died in a fire last month. "the new york times" is reporting that wal-mart played a key role in blocking the improveme
if republicans and not agree to that, is the administration prepared to go over the fiscal cliff? >> absolutely. there is no room for an agreement that the not involve the rates going up for the top 2%. >> speaking to a roundtable of corporate executives in washington, president obama said republicans' aid to examine the reality that tax rates will rise for the wealthiest americans. >> we have seen some movement in the last several days with some republicans. there has been a...
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. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting pot? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are several democrats who have floated that for a while. the code word is we want to go back to the clinton tax rates and talk about the clinton economy that we had a much more vigorous economy and growth and we should go back to the clinton tax rates. what that really means is all tax rates on all americans go back up because the tax rates were brought down in 2001 and 2003. i don't support that. i don't think that's a great idea. it would slow down the economy. >> when you look at economist's evaluations, it would slouw dow the economy. it would. there's no question about it. but if the problem is that we hav
. >> with no breakthrough today, fiscal cliff negotiations, could this be a starting pot? "outfront" republican congressman james lankford of oklahoma, incoming chairman of the republican policy committee, the fifth ranking position in the house gop leadership. appreciate you're taking the time. what about this idea of racinin taxes on everyone? the math works much better. >> i heard your lead in when you said this is a new idea. actually, it's not a new idea, there are...
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. >> reporter: secretary geithner said he cannot promise we will not go over the fiscal cliff and whether or not we go over it depends -- is a decision, rather, that lay in the hands of republicans that don't want to increase tax rates. speaker boehner said there is a chance we go over the cliff, but he doesn't want any part of that and he will do everything he can to avert that. eric, jamie? >> eric: peter, negotiations if and when they commence and continue, we'll see what happens. thank you, peter. jamie? >> jamie: well, you will also want -- we're going to talk, actually, to chris wallace and get a preview about that interview. hard to believe he has both tim geithner and john boehner. from the looks of it, john boehner does seem to be flabbergasted. we'll get to that shortly. >> eric: that is on "fox news sunday." later today, exclusive interview with speaker boehner. sunday at 2:00 p.m. and 6:00 p.m. right here on the fox news channel. >> jamie: well, there is a push by the senate republican leader mitch mcconnell as well to put medicare and social security on the table to try and t
. >> reporter: secretary geithner said he cannot promise we will not go over the fiscal cliff and whether or not we go over it depends -- is a decision, rather, that lay in the hands of republicans that don't want to increase tax rates. speaker boehner said there is a chance we go over the cliff, but he doesn't want any part of that and he will do everything he can to avert that. eric, jamie? >> eric: peter, negotiations if and when they commence and continue, we'll see what...
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but after the fiscal cliff happens january 1st tax rates go up on everyone so the solution would be vote are for a serious of tax cause. >> i think what's disturbing here you're hearing the same tone creep back in the conversation that we heard before. do you think it's different this time? >> it's identical. i feel like i'm going through this horrible deja vu. this is the fifth time we've been through this. the posturing is the same. the claims of bad faith are the same. then on both sides you have liberals and conservatives, newt gingrich making the case this whole cliff thing was a creation of the other side. you have a group denying this central debate is really worth having right now. none of this feels we're inching towards a deal. >> looking backwards instead of forward. >>> for waterlogged californians this is the calm between the storm. much of the state has been battered by two storms that brought torrential rains, mudslides and flash flooding and storm number three is on its way. carter evans has the latest. >> reporter: as the powerful winter storm moved across the west nevad
but after the fiscal cliff happens january 1st tax rates go up on everyone so the solution would be vote are for a serious of tax cause. >> i think what's disturbing here you're hearing the same tone creep back in the conversation that we heard before. do you think it's different this time? >> it's identical. i feel like i'm going through this horrible deja vu. this is the fifth time we've been through this. the posturing is the same. the claims of bad faith are the same. then on...
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beginning to pay down its debt and avoid going over the fiscal cliff is raising tax rates on the wealthiest americans. >> we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> reporter: if republicans agree to do that, the president told bloomberg television, he'll agree to serious spending cuts. republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates, but by eliminating some deductions and loopholes. during last year's budget showdown, the president said he wanted to do exactly that. >> what we said was give us $1.2 trillion in additional revenues, which could be accomplished without hiking tax rates, but could simply be accomplished by eliminating loopholes, eliminating some deductions and engaging in a tax reform process that could have lowered rates generally while broadening the base. >> reporter: but now the president does not. he says it will not raise enough revenue. >> it's not me being stubborn. it's not me being partisan. it's just a matter of math. >> reporter: amidst all
beginning to pay down its debt and avoid going over the fiscal cliff is raising tax rates on the wealthiest americans. >> we're going to have to see the rates on the top 2% go up, and we're not going to be able to get a deal without it. >> reporter: if republicans agree to do that, the president told bloomberg television, he'll agree to serious spending cuts. republicans have offered to raise taxes on higher incomes by $800 billion, not by raising tax rates, but by eliminating some...
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it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox news sunday. plus, we've seen this movie before. the two parties edging closer and closer to the brink. we will ask our sunday panel whether we will get a happy ending or an economic disaster. and our power player of the week. a young beauty queen has to make a tough choice. all right now on fox news sunday. >> hello again from fox news in washington. well, we had quite a day around here friday with talks to avoid the fiscal cliff deadlock, and everyone saying the other side is to blame, pressure secretary geithner scheduled a ground of interviews. then friday afternoon, speaker boehner's office call
it's 30 days and counting until we go over the fiscal cliff. >> the president is demanding higher tax rates. congressional republicans want deeper spending cuts and entitlement reform. will they make a deal before we bring in the new year with a round of tax increases for all of us? we will ask the two men at the center of the negotiations where we really stand. for the president, treasury secretary timothy geithner. for the gop house speaker john boehner. geithner and boehner only on fox...
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. >> secretary geithner says he cannot promise we will not go off the fiscal cliff. speaker boehner says he is going to do everything we can to avoid the cliff. but acknowledged there is a chance he canal stop it. jamie? >> eric: peter doocy comprehensive report. >> jamie: thank you. >> eric: president obama hit the road on friday to try to sell his plan to the american people. but is that his -- is that what needed to make a deal? bring in max schlapp, political director under president bush. former democratic congressman from texas, martin frost. matt and martin, welcome sunday morning. good to see you. matt, let me start with you. what do they need, because they are not there now, to get to the point they need to make a deal? >> they have time to pull a deal together. the real concern here is that president obama is drawing lines in the sand. some of the lines might not be able to be crossed by the republicans. that gets people increasingly worried that an overall deal can't be reached. hard to imagine in the short-term before cliff by the end of the year, they ca
. >> secretary geithner says he cannot promise we will not go off the fiscal cliff. speaker boehner says he is going to do everything we can to avoid the cliff. but acknowledged there is a chance he canal stop it. jamie? >> eric: peter doocy comprehensive report. >> jamie: thank you. >> eric: president obama hit the road on friday to try to sell his plan to the american people. but is that his -- is that what needed to make a deal? bring in max schlapp, political...
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so when it comes to the fiscal cliff, our young voters more than ever want to make sure that our republicans and our candidates that are putting forth the message of working together to get this problem solved. i think whether you look at this simpson bowles plan or other things, we need to make sure we're work together and putting these important issues forth. >> rick: let's talk about entitlement reform. that's another topic that's very important for republicans and they have said that the leadership in washington, they want to hear the president. they want to hear democrats talk about entitlement reform. are young republicans in favor of a partial or whole privatization of our entitlement program? would young republicans be open to the idea of privatizing social security and things like that? >> our republicans on campus have traditionally expressed support for cutting spending. they can see that the current climate that we're in of overspending and simply not having enough revenue and increasing our deficit is just not a tenable plan for the future, especially as regards to our future em
so when it comes to the fiscal cliff, our young voters more than ever want to make sure that our republicans and our candidates that are putting forth the message of working together to get this problem solved. i think whether you look at this simpson bowles plan or other things, we need to make sure we're work together and putting these important issues forth. >> rick: let's talk about entitlement reform. that's another topic that's very important for republicans and they have said that...
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no matter how close the country comes to plunging off the fiscal cliff, topped a visors say the president will not budge until republicans acknowledge they will keep tax rates where they are for middle income families and raise them on households earning more than $250,000 a year. >> in washington nothing's easy so there's going to be prolonged negotiations. and all of us are going to have so get out of our comfort zones to make that happen. g'm willing to do that. i'm hopeful that enough members of con willing to do that as well. we can solve these problems. but where the clock is really ticking right now is on middle- class taxes. >> reporter: but the clock isng. the cold political reality is this: mr. obama is now on record seeking twice as much in higher tax revenue than the democratically controlled senate passed earlier this year with only 51 votes. tax increases that cannot pass ase senate have no chance in the house republican conference, which is why republicans regard the president's proposal and his heech today as more static than substance. >> pelley: major, thank you. well, t
no matter how close the country comes to plunging off the fiscal cliff, topped a visors say the president will not budge until republicans acknowledge they will keep tax rates where they are for middle income families and raise them on households earning more than $250,000 a year. >> in washington nothing's easy so there's going to be prolonged negotiations. and all of us are going to have so get out of our comfort zones to make that happen. g'm willing to do that. i'm hopeful that enough...
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cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had a price tag attached to them. and if we're going to talk about the debt limit in this, then we're -- there's going to be some price tag associated with it. >> last question. >> are you standing by your dollar for dollar -- the increase in the debt limit for cuts? >> are i continue to believe that any increase in the debt limit has to be accompanied by spending reductions that meet or exceed it. >> thank you, mr. speaker. >> speaker boehner speaking to the press outside of the offices on capitol hill. not really yielding any information, though. the intransigence it seems on both sides continues. but it definitely co
cliff, you called serious business, extending the lower tax rates -- [ inaudible question ] >> i'm going to do everything i can to avoid putting the american economy, the american people through the fiasco of going over the fiscal cliff. >> which is worse for the economy? [ inaudible question ] could you include a debt limit that is in the overall package? >> as i told the president a couple weeks ago, there's a lot of things i've wanted in my life, but almost all of them had...